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Realty Index Outlier In Trade; Godrej Properties Gain 5% Intra-Day After JV With TDI Group
Amid weak market sentiments globally and rising new Omicron variant cases in India, Indian indices in trade on December 6, 2021 are seen extending losses. At 10:28 am, Nifty was down by 0.37 percent at 17,133. Broader markets too are weak with Nifty Midcap 100 down by 0.2 percent. Nevertheless, Bank Nifty is seen trading with tad gains.
Amid sectoral indices, while there is mixed trend, with some indices trading in the red and others in the green, Nifty Realty index is the outlier in trade with gains of over 1 percent. Other indices in the green include Nifty metals, financial services, metal and PSU Bank.
Within the realty space, of the 10 constituents within the Nifty Realty pack, 9 are trading with gains of up to 3.5 percent, while Macrotech Developers is trading flat. Brigade Enterprises which scaled to day's high of Rs. 498.9 is trading close to its 52-week high of Rs. 528.8 apiece.
Godrej Properties which gained by 5 percent in intra-day trade has already pipped previous day's trading volumes in just an hour of trade. This is after the country's leading developer in the real estate domain has announced that it has formed a Joint Venture with TDI Group for developing a luxurious residential project at Connaught Place in New Delhi.
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